How Much Does It Cost to Study an MBA in 2023?

Among the benefits of an MBA degree, job security and a high salary are some of the most important. The average income for an MBA graduate is much higher than an employee's with a regular Master's. You can expect to earn twice as much with an MBA compared to what you would get from a regular university degree.

But how much will you have to pay to reach that point? We’re going to give you a breakdown of MBA tuition fee costs for different types of MBAs, while also including some of the most affordable MBA study options. In the end, you’ll also be able to check out some average salaries you can expect after graduation.

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How much does an MBA cost, normally?

An MBA programme represents a considerable financial investment. To give you an idea about how much you might have to pay, we’ve listed some average tuition fee price ranges in popular study destinations offering MBAs. We’ve included the tuition fees for 1 year of studies. Keep in mind that most MBAs take 2 years to graduate.

  • The US :14,000 – 40,000 EUR/year
  • The UK: 9,000 – 60,000 EUR/year. Most universities charge around 16,000 – 24,000 EUR/year
  • Australia: 14,000 – 30,000 EUR/year
  • Canada: 11,000 – 35,000 EUR/year
  • Spain: 15,000 – 28,000 EUR/year
  • Singapore: 29,000 – 45,000 EUR/year
  • The Netherlands: 8,500 – 32,000 EUR/year

Keep in mind that the most expensive MBA degrees can reach prices as high as 80,000 EUR/year.

Looking for good, affordable MBA? Here are a few we recommend, along with their tuition costs:

Most affordable countries for studying an MBA

By default, MBA programmes don’t come cheap. Still, you don’t have to break the bank if you want to advance your business career. You can find very affordable or even free Masters of Business Administration in the countries listed below.

  • Finland: 0 EUR only for EU/EEA students
  • Sweden: 0 EUR only for EU/EEA students
  • France: 0 – 9,000 EUR/year for all international students
  • Austria: 0 – 10,000 EUR/year for all international students
  • Germany: 0 – 9,000 EUR/year for all international students

Our list is not exhaustive. You can find affordable MBA degrees in top study destinations, like the US or UK. To do this, use the filters on our website, Mastersportal.com, and select the price range you prefer.

1-year MBA costs

1-year MBAs are faster, more demanding MBA programmes that pack in more learning into a shorter amount of time. Overall, they may be more cost-effective, as you will only have to pay for one year of studying. But, depending on the business school you choose, they can also end up more expensive than a 2-year MBA at a more affordable university. Because they are more demanding, they are more difficult to graduate while also holding a job. So, what is the price range for a 1-year MBA?

Keep in mind, that some 1-year MBAs can reach as high as 75,000 EUR.

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Part-time MBA costs

Part-time MBA degrees are a study option many working professionals choose in order to take their studies while working. That’s why part-time MBAs usually take a longer time to graduate. They can also be more affordable than regular MBAs, as costs are spread over a longer duration. The good news is that most MBAs have a part-time study option because working professionals need more flexibility in their studies.

As a general rule, part-time MBAs will cost the same as the total amount of a full-time MBA. So, if I would graduate with an MBA in one year, I could pay 20,000 EUR for that year, but if I graduate in 3 years, I would pay only 6,600 EUR/year. Make sure you check out the complete tuition details of the MBA on the programme page to confirm if that is the case for the degree you are interested in.

Check out the full list of available part-time MBAs you can study abroad.

Online MBA costs

Online MBAs are an even more comfortable study option for working students, as they don’t require travel to the university. While the travel and living costs are zero, you will have to sacrifice some networking opportunities and rich class interaction. But if you can find an online MBA with a good online learning platform you should be safe. Overall, tuition fees for online MBAs tend to be more affordable.

Here are some price ranges for online MBAs:

  • United States: 9000 – 40,000 EUR/year
  • United Kingdom: 6000 – 23,000 EUR/year
  • Germany: 7000 – 12,500 EUR/year
  • Australia: 14,500 – 27,000 EUR/year
  • Netherlands: 12,500 – 17,200 EUR/year

Keep in mind that even online MBAs can reach prices as high as 90,000 EUR/year.

Find a full list of MBAs you can study online.

Executive MBA costs

Executive MBAs are the most expensive MBAs you can think of. Why? Because they are meant for top tier business professionals who want to reach the highest roles in companies. You will need to have a lot of experience in the field before you can be accepted to such a demanding type of degree.

I most countries executive MBAs range between 20,000 – 50,000 EUR/year, with U.S. and UK closer to the upper side of this cost range.

We are sorry to say we even found executive MBAs as expensive as 120,000 EUR/year.

Find our full list of executive MBAs you can study abroad.

MBA costs at the best-ranked universities in the world

Do you want to get the best education in the world? Or at least the best-regarded one, thanks to the prestige earned by the top-ranked universities in the world? Here are some examples of tuition fees, from the best business schools in the world, to give you an idea what it would cost to study at the best schools in that country (one example per country):

Average salaries for MBA graduates

If you’re wondering what you can do with an MBA degree or what MBA jobs are available, here are some popular career choices: business operations manager, management analyst, market research analyst, top executive, HR manager, etc.

According to the QS Jobs & Salary Report 2019, these are some average MBA annual salaries in the world:

  • In the US – 102,100 USD/year
  • In Canada – 99,800 USD/year
  • In Australia – 98,400 USD/year
  • In Singapore – 82,700 USD/year
  • In the UK – 92,400 USD/year
  • In Switzerland – 123,500 USD/year
  • In Germany – 77,200 USD/year
  • In France – 98,500 USD/year
  • In Italy – 86,400 USD/year

In two or three years, you cover the investment made with your MBA education.

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Which MBAs lead to the highest salaries?

All MBAs lead to high salaries, but some industries pay better than others. According to the U.S. News, these are the top 5 industries where MBA graduates earn the most:

  • Consulting
  • Financial Services
  • Technology
  • Healthcare
  • Consumer Packaged Goods

If you’re interested in earning more, choose an MBA that will enable you to develop the necessary skills to work in one of these industries. However, don’t allow high salaries to trick you into believing an MBA diploma is the only thing you need. Salaries are determined by many other factors, such as work experience, bonuses, and how well you negotiate your contract.

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